SOCIAL SECURITY SCHEME

 

SOCIAL SECURITY

SCHEME

Social Security Schemes are schemes imposed and controlled by government units for the purpose of providing social benefits of particular sections of the community.

The social security schemes are as follows

Pradhan Mantri Vaya Vandana Yojana for Senior Citizens

The Pradhan Mantri Vaya Vandana Yojana (PMVVY)  was launched on 22nd July, 2017.  It is a pension scheme exclusively for senior citizens aged 60 years and above.  Under this scheme, senior citizens will get a guaranteed interest of 8% for 10 years depending upon the investment made by them.

Tele-Law Initiative

‘Tele-Law’ Initiative was launched in collaboration with the Ministry of Electronics and Information Technology on 12th June, 2017.  The aim of this scheme is to provide legal aid services to the marginalized communities and citizens living in rural areas through the Common Service Centres (CSC) at the Panchayat level, spread across the country.

Inclusive India Initiative

The conference “Inclusive India Initiative: Towards an  Inclusive India” for Intellectual and Developmental Disabilities (IDDs)was launched on 6th June, 2017.  The initiative is specifically catering to persons with intellectual and developmental disabilities; with an objective to include these people in  the mainstream and in all important aspects of social life.

Rashtriya Vayoshri Yojana

The Union Ministry of Social Justice and Empowerment has launched Rashtriya Vayoshri Yojana in Nellore District of Andhra Pradesh on 4th April, 2017.  The scheme aims at providing physical aids and assisted-living devices for senior citizens belonging to Below Poverty Line (BPL) category.  The scheme will be distributed free of cost physical aids and assisted-living devices for senior citizens belonging to BPL category in Camp mode.

Pradhan Mantri Jeevan Jyothi Bima Yojana

The PMJJBY is available to people in the age group of 18 to 50 and having a bank account.  People who join the scheme before completing 50 years can, however, continue to have the risk of life cover upto the of 55 years subject to payment of premium.  Aadhar would be the primary Know Your Customers (KYC) for the bank  account.

Pradhan Mantri Suraksha Bima Yojana

Under PMSBY, the insurance subscriber will get annual life insurance in case of accidental death, partial disability or full disability.  The insurance is available to any person in the age group of 18 to 70 years.  For accidental death and full disability ₹ 2 lakh and for partial disability ₹ 1 lakh will be provided.

Atal Pension Yojana

The Atal Pension Yojana (APY) will focus on all citizens in the unorganised sector, who join the National Pension System (NPS) administered by the Pension Fund Regulatory and  Development Authority (PFRDA) and who are not members of any statutory social security scheme.  The minimum age of joining APY is 18 years and maximum age is 40 years.  Therefore, the minimum period of contribution by the subscriber under APY would  be 20 years or more.  This scheme is mainly targeted at unorganised sector workers.

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